Scientific Games Bolts Higher Toward Bigger Gains

Scientific Games put together such an amazing performance on Monday, the company deserves a round of applause. After gapping higher, the stock steadily moved higher as turnover started to swell. The stock was trading at a clip of about 8x its average volume. Clearly, institutions were coming on board. Then Scientific Games flew above resistance and the upper bollinger band, which is called a fat tail condition. That is mega bullish.

The stock might not be done! The MACD is on a buy signal, and money flow has moved into the positive column again. Relative strength is impressive and may have peaked. Look for a followthrough day. It would be a bullish sign and could push this stock back to the old highs in the 40’s. From the current level, that would be nearly a 20% gain.

Scientific Games (Nasdaq: SGMS) Video Chart Analysis

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About Scientific Games

Scientific Games Corporation is the leading integrated supplier of instant tickets, systems and services to lotteries, and the leading supplier of wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. Scientific Games’ customers are in the United States and more than 60 other countries.